LEE JOHNNY C 4

What Happened

• Johnny C. Lee, President, CEO and Director of RBB Bancorp (RBB), had 5,500 restricted stock units (RSUs) convert into common shares on 2026-07-20. Of those shares, 1,974 were surrendered/withheld to cover tax obligations at $26.74 per share, generating $52,785. The RSU conversion showed an acquisition of 5,500 shares at $0 (no cash paid) and related entries that record the tax-withholding share disposition.

Key Details

• Transaction date: 2026-07-20; Form filed: 2026-07-22 (two days later).
• Conversion (derivative exercise, code M): 5,500 RSUs → 5,500 common shares at $0 per share.
• Tax withholding (code F): 1,974 shares withheld/ disposed at $26.74 each = $52,785.
• Net new shares issued to Lee from this vesting: 3,526 shares (5,500 issued − 1,974 withheld).
• Footnotes: RSUs convert 1-for-1 into common stock (F10); these shares relate to a 7/20/2023 RSU grant that vested on 07/20/2026 (F1, remarks).
• The “disposed” derivative entry reflects the cancellation/settlement of the derivative/RSU on conversion, not an open-market sale.
• Filing appears timely (filed two days after the transaction); no 10% owner or 10b5-1 plan indicated in the provided notes.

Context

• This was a routine equity award vesting and tax-withholding event (not a market purchase or discretionary sale). Such transactions commonly reflect compensation vesting, not an explicit buy/sell signal. The conversion of RSUs to shares and the withholding of a portion of those shares to cover taxes is standard practice.